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Preiss Looking for Better 1998
Jim Milliot -- 4/27/98
The transition of Byron Preiss Multimedia Co. from a publisher of consumer-oriented CD-ROMs to an education and multimedia publisher was an expensive one in 1997. During the year, revenues fell to just under $4 million, from $4.9 million in 1996, and the company posted a net loss of $7.7 million, compared to a loss of $3.6 million in the prior year. The loss in the year included $4.7 million from discontinued operations due largely to BPMC's decision to withdraw from the consumer entertainment software market. The loss from continuing operations was $3 million in 1997, compared to $1.9 million in 1996.
BPMC's new strategy is to develop educational Internet products and educational software as well as to publish and direct-market educational software to schools. To help boost the sales of its educational products, BPMC launched a dedicated Internet commerce store April 15 at www.mediaschoolhouse.com, a site BPMC president Byron Preiss hopes "will become the Amazon.com for educational software."

Preiss told PW he expects BPMC to perform much better in 1998, noting that in November 1996 80% of its sales came from the retail software market, but that by last December 80% of its revenues were generated by educational software and book publishing.
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